Omaha, NE Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview

Omaha's multifamily market saw a meaningful demand-side reversal in Q1 2026, with quarterly absorption outpacing deliveries by nearly 2:1, though trailing 12-month absorption of 1,831 units still lagged the 4,011 units delivered as the cumulative impact of 2025's supply surge worked through the market. Average rent stood at $1,274, up 1.6% year-over-year, ranking 11th among the 50 largest markets nationally, with a 1.3% quarter-over-quarter gain snapping two consecutive quarters of decline, while stabilized occupancy of 93.6% remained above the national average despite a 120 basis point annual decline. The construction pipeline continued declining to 3,413 units in Q1 (3.9% of inventory), with trailing 12-month starts falling 53% from a year ago to 2,040 units, signaling a sustained reduction in forward supply pressure. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Omaha multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.